Welcome back, Connectioneers! If you’re looking for help with today’s puzzling NYT Connections puzzle, I’m here to offer my assistance with some extra clues and the solutions to the Yellow, Blue, Green and Purple groups.
Alright, alright, alright. Sunday Connectioneers, I hope you’re not working too hard. It’s a day designed by the celestial powers that be for sitting around and soaking up the sun. Head to the beach, but bring your NYT Games App with you and let’s solve today’s Connections!
Also be sure to check out my weekend streaming guide for all the best TV shows and movies to watch this weekend. There’s some great new stuff out, both at home and in theaters.
ForbesWhat To Watch This Weekend: New Shows And Movies To Stream On Netflix, Hulu, Prime Video, Apple TV And MoreBy Erik Kain
Let’s do this!
If you’re looking for Saturday’s Connections guide, it’s right here.
Play Puzzles & Games on Forbes
How To Play ConnectionsConnections is the second-most popular NYT Games puzzle game outside of the main crossword itself, and an extremely fun, free offering that will get your brain moving every day. Play it right here.
The goal is to take a group of 16 words and find links between four pairs of four of them. They could be specific categories of terms, or they could be little world puzzles where words may come before or after them you need to figure out. And they get more complicated from there.
There is only one set of right answers for this, and you only get a certain number of tries so you can’t just spam around until you find something. There are difficulty tiers coded by color, which will usually go from yellow, blue/green to purple as difficulty increases, so know that going in and when you start linking them together.
You pick the four words you think are linked and either you will get a solve and a lit up row that shows you how you were connected. If you’re close, it will tell you that you’re one away. Again, four mistakes you lose, but if you want to know the answers without failing, either come here, or delete your web cookies and try again. If you want to play more puzzles, you can get an NYT Games subscription to access the full archives of all past puzzles.
NYT Connections Hints And Answers – Saturday July 26Below, we’ll get into some extra hints for each Connections group – Yellow, Blue, Green and Purple – and then the official clues and answers.
Here are today’s Connections words:
breakersyncswirlfusegamerelayflushconnectpairrefilldrainjoinswitchstraightpokerlongHere’s an Extra Hint for Each Connections Group🟡Yellow group – Young parents, take heed.🟢Green group – Used to be cutting edge, now it’s in the trash bin (or a storage box).🔵Blue group – Not descriptions of a blue sky sunny day.🟣Purple group – Think of what you might find on that beach.One Word for Each Connections Group: 🟡Yellow group – first words🟢Green group – plasma tv🔵Blue group – scotch mist🟣Purple group – gas stationWhat Are Today’s Connections Groups?Alright, the full spoilers follow here as we get into what the groups are today:🟡Yellow group – baby milestones🟢Green group – outmoded consumer tech🔵Blue group – expressions for rain🟣Purple group – what "shell" might refer toWhat Are Today’s Connections Answers?The full-on answers are below for each group, finally inserting the four words in each category. Spoilers follow. The Connections answers are:🟡Yellow group – crawling, first words, rolling over, solid food🟢Green group – blackberry, discman, dvd player, plasma tv🔵Blue group – april showers, liquid sunshine, scotch mist, wet weather🟣Purple group – carapace, gas station, pastry crust, rowing boatHere’s the finished puzzle in the order I solved it:
Today's NYT Connections
Screenshot: Erik Kain
Today’s NYT Connections is a 1/5 on the Connections Bot difficulty scale so about as easy as they come, and I think it relied on the two-word combos to hopefully throw people off. Unfortunately, even though some of these were super obscure – LIQUID SUNSHINE and SCOTCH MIST are not phrases I’m familiar with – most everything else in the Yellow, Green and Blue categories was shockingly obvious. Not much in the way of red herrings or really anything to make this a particularly interesting or impressive Connections puzzle other than the Purple group. I admit, that’s a pretty clever way to connect “SHELL.”
How’d you do on today’s Connections? Let me know on Twitter, Instagram, or Facebook.
Find more guides to Wordle, Pips and Strands on my blog where you can also follow me for TV and movie and video game coverage. Let me know if you have any fun puzzle games in your rotation that I should try on Twitter, Instagram, or Facebook. Have a great Sunday!
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 25, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306282
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 24, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
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Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3653 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ses/ to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner [email protected]
1-833-538-3653
1100 Poydras St., Suite 960
New Orleans, LA 70163
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306126
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
U.S. President Donald Trump delivers a speech as he stands in front of the VC-25B aircraft gifted by Qatar that will be used as Air Force One, at Joint Base Andrews, Maryland, U.S., June 19,... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesManhattan federal prosecutors seek testimony from NYT journalists in criminal leak probeSubpoenas were issued by Manhattan U.S. Attorney Jay Clayton after reports on Air Force One security concernsNYT says subpoeanas violate First Amendment, but prosecutors say they were issued properlyNEW YORK, July 23 (Reuters) - President Donald Trump's Justice Department will ask a Manhattan federal judge on Thursday to uphold its subpoena issued to New York Times' (NYT.N), opens new tab journalists who reported on security concerns about the president flying on a Qatari-donated Air Force One.
The subpoenas issued by Manhattan U.S. Attorney Jay Clayton on July 10 are the latest instance of the Trump administration seeking to force journalists to divulge their sources, part of what critics describe as the president’s broader pressure campaign against the media.
Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.
U.S. District Judge Arun Subramanian has paused enforcement of the subpoenas pending Thursday’s hearing, which is set for 2 p.m. ET (1800 GMT)in Manhattan federal court.
Prosecutors have asked Subramanian to put the subpoenas on hold for two weeks because next steps in the investigation could factor into his decision, while the Times has asked the judge to throw them out.
Clayton, Trump’s pick to be the next U.S. director of national intelligence, issued the subpoenas after the Times reported that Trump left Turkey on the old Air Force One because a new plane donated by Qatar lacked antimissile and other defensive features.
The reports cited anonymous sources and came as a ceasefire collapsed in the U.S.-Israeli war on Iran.
The Times said in a court filing that the subpoenas are aimed at harassing and intimidating journalists, in violation of free press protections under the First Amendment of the Constitution.
The company also accused the Justice Department of violating internal policies on the use of subpoenas against journalists, which is supposed to be a rare step requiring top-level approval.
Prosecutors denied improperly issuing the subpoenas and said in a Tuesday court filing that the First Amendment does not shield reporters from having to divulge essential information in criminal investigations.
The government also said the Times’ coverage posed a “substantial national security concern” about leaks of classified national defense information when the president was flying amid hostilities with a foreign adversary intent on harming him, an apparent reference to Iran.
Both Republican and Democratic administrations have sought to compel journalists to reveal sources in leak probes, but press groups say Trump's Republican administration has used subpoenas and search warrants too freely, including against the Washington Post and the Wall Street Journal. They also accuse Trump of using government power and private lawsuits to bully and harass the news media.
The Trump administration has said it is pursuing criminal charges against leakers, not targeting journalists, and Trump’s private lawyers say they are seeking to hold the media accountable for false coverage.
Reporting by Jack Queen in New York; Editing by Aurora Ellis
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Jack Queen covers major lawsuits against the Trump administration involving urgent questions of executive power and how their resolution could affect the law and the legal profession in the years to come. Previously, he covered criminal and civil cases against Trump during the interim of his presidential terms, including gavel-to-gavel coverage of his historic hush money trial in New York and his civil fraud trial, which ended in a half-billion-dollar judgment. Jack has also covered high-profile defamation cases including the Dominion Voting Systems' lawsuit against Fox News, which settled for $787 million after intense pretrial litigation. Based in New York, he specializes in breaking news as well as analysis, explainers and other explanatory reporting.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 21, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305849
Source: Faruqi & Faruqi LLP
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New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 20, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=FQIEqld_vCU
Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3653 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pics/ to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
The reporters had worked on stories about security concerns involving a jet gifted to the U.S. by the Qatari government that was being used as Air Force One.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 19, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305574
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
U.S. Immigration and Customs Enforcement agents recently have been told that the FBI will no longer investigate claims of assault against the federal officers, according to a report by The New York Times.
On Thursday, FBI managers received written notice of the change, sources told the Times, and some ICE agents throughout the country were informed by their FBI counterparts.
In incidents where ICE agents have been involved in fatal shootings, the FBI under the Trump administration has been tasked with determining whether the agents were assaulted before opening fire. But evidence revealed during those investigations could later be used in civil rights investigations or prosecutions against ICE agents.
The new guidance would likely mean Homeland Security Investigations, an arm of ICE, would investigate such assault claims by their own agents, according to the Times. Allowing DHS to handle those investigations could lead to less accountability for immigration agents, sources told the NYT.
Since DHS does not have the jurisdiction to investigate civil rights violations, the policy change could lessen the likelihood that ICE agents who shoot unarmed people would be investigated for breaking federal law.
The Department of Justice and the DHS have both denied that any change in oversight has taken place.
"The Justice Department and Department of Homeland Security are partners in addressing crime and upholding the rule of law, while securing the safety and security of American communities," the DHS and DOJ said in a joint statement provided to CNBC.
"The relationship between DHS and DOJ in investigating assault on federal officer cases has not changed, and FBI will continue to investigate in accordance with agency policy."
The purported change in oversight comes just days after an ICE agent shot and killed a Colombian man, Joan Sebastian Guerrero, in Biddeford, Maine. He was at least the seventh person shot by ICE agents since January 2025, and the second person just this month after an agent shot and killed Mexican immigrant Lorenzo Salgado Araujo in Houston on July 7.
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 17, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=FQIEqld_vCU
Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ses/?prs=nf to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner [email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 17, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305471
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas Purchase Licensing Rights, opens new tab
July 17 (Reuters) - Meta Platforms (META.O), opens new tab is in talks to lease computing power to Anthropic in a potential deal worth as much as $10 billion over two years, the New York Times reported on Friday, citing three people with knowledge of the discussions.
Shares of the social media giant slightly pared losses on the news to trade down more than 2% amid a wider tech selloff.
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Such a deal would help Meta diversify beyond advertising by generating revenue from its infrastructure and competing with neocloud firms such as CoreWeave (CRWV.O), opens new tab and Nebius (NBIS.O), opens new tab, as growing adoption of advanced AI tools boosts the need for computing capacity.
The Claude Code creator would pay Meta in monthly increments over the two-year period, although the terms remain subject to change, NYT reported. The companies would be able to exit any agreement early, it said.
IPO-bound Anthropic had proposed the deal in June and Meta is considering it, the report said, adding that the talks have become complicated since Meta does not have a business selling its computing power.
According to the report, the discussions are in their early stages and may not result in a deal.
Meta did not immediately respond to a Reuters request for comment, while Anthropic declined to comment. Reuters could not independently verify the report.
The potential agreement echoes a strategy recently pursued by Elon Musk's SpaceX (SPCX.O), opens new tab, with whom Anthropic struck a deal in May to tap the full computing power of its Colossus 1 data center in Memphis, Tennessee.
At Meta's shareholder meeting in May, CEO Mark Zuckerberg had said entering cloud computing was "definitely on the table," noting that firms were approaching Meta "almost every week" to buy access to its AI models or spare computing power.
Earlier this month, Bloomberg News reported that Meta was building a cloud business to sell excess computing power and host AI models for developers.
Reporting by Anhata Rooprai in Bengaluru; Editing by Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Several reporters were subpoenaed to appear before a grand jury following reporting on security concerns with the Qatari-gifted jet used as Air Force One.
People walk by The New York Times building in Manhattan, New York City, U.S., September 16, 2025. REUTERS/Kylie Cooper Purchase Licensing Rights, opens new tab
CompaniesWASHINGTON, July 15 (Reuters) - The New York Times has filed a court motion to block federal grand jury subpoenas to three of its journalists over their reporting on President Donald Trump's new Qatari-donated Air Force One, a spokesperson said on Wednesday.
Jay Clayton, the U.S. Attorney in Manhattan, issued the subpoenas on Friday, shortly after the New York Times reported that the new Air Force One lacked some of the security features of the older aircraft. The newspaper's reporters were ordered to appear on Wednesday before a grand jury panel in Manhattan federal court.
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"As we set out in our motion, these subpoenas are brought in bad faith to punish The Times for its coverage," David McCraw, senior vice president and deputy general counsel of the New York Times, said in a statement.
"We are going to court to defend our journalists’ rights to report freely on the administration and to provide the public with stories that matter."
Acting Attorney General Todd Blanche told a U.S. Senate panel on Wednesday that the reporters were not targets of an investigation, but the subpoenas were aimed at identifying people who leaked sensitive national security information.
McCraw has asked the court to make public the newspaper's filing, which remains under seal. The news outlet, he said, "believes that the public has a right to information about this case."
Reporting by Andrew Goudsward; Editing by Christian Martinez and Edmund Klamann
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 15, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305151
Source: Faruqi & Faruqi LLP
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NEW YORK--(BUSINESS WIRE)--The New York Times Company (NYSE: NYT) today announced that it will issue its second-quarter financial results on Wednesday, August 5, 2026 at approximately 7:00 a.m. E.T. by posting the results on the Company's investor relations website at investors.nytco.com. At that time, the Company will issue an advisory release over a newswire service to announce that the results have been posted and are available on the Company's website at investors.nytco.com. The Company's e.
The New York Times' stock has pulled back into a local correction, retreating from its year-to-date high of $87.18 to $75.
The decline follows profit-taking after Berkshire Hathaway disclosed its stake in the company back in February.
Even so, the underlying business remains strong, and that strength points to a likely rebound heading into earnings.
President Donald Trump has always claimed that the New York Times' business was failing.
However, in reality, its business is booming, helped by its digital business and its large market share in the media industry.
Unlike the Washington Post and LA Times, its business continues growing, with visitors on its website continuing to rise.
Its total visits rose by 1% to 605 million in June, while The Washington Post and LA Times had 64 million and 25 million in the same period.
The most recent results showed that its business did well in the first quarter. Its digital-only subscription jumped by 16.1%, near the upper side of its range.
Total subscription revenue rose by 11.3%, also higher than the guided range of between 9% and 11%.
NYT’s digital advertising revenue rose by 31%, while its advertising and affiliate, licensing, and other revenues rose by 17% and 7.8%, respectively.
These numbers are strong for a media company that has been in business for the last 175 years.
Wall Street analysts suggest that its growth will continue, seeing modest growth, helped by Donald Trump’s news, upcoming midterm elections, and the resumption of the US-Iran war.
The paper will also do well after the upcoming election, especially if Democrats win the House of Representatives and the Senate. They will intensify their investigations against Trump, including a potential impeachment. Polymarket data shows that there is a 66% chance that he will be impeached before his term ends.
NYT’s market share in the US and the potential revenue growth explain why it continues trading at a premium.
Data shows that it has a forward price-to-earnings ratio of 28, higher than the communication sector average of 15. Its forward PEG ratio of 1.58 is also higher than the expected 1.23.
Analysts see some modest growth in the near term. UBS and Bank of America have a target of $80, while JPMorgan has a target of $82. The most optimistic analyst is Deutsche Bank, which noted that the stock may jump to $95.
New York Times stock chart | Source: TradingView
The daily chart shows that the NYT stock has pulled back in the past few months, moving from the year-to-date high of $87 in April to $75 today. On the positive side, the stock has found support at the 200-day moving average.
The stock has slowly formed a bullish flag pattern, a common continuation sign in technical analysis. It is attempting to flip the red Supertrend indicator from red to green.
Therefore, the most likely scenario is where the stock continues rising as bulls target the year-to-date high of $87.
Such a move would signal a 16% increase from the current level. The other potential target is $84, the 38.2% Fibonacci extension level.
Dangerous. Brazen. Unprecedented. Uncharted territory.
Reaction in the media world has been swift and severe to the issue of subpoenas to five New York Times journalists who reported on security questions involving the new, Qatari-gifted Air Force One — a legal maneuver seen as a troubling escalation of the Trump administration’s campaign to control and intimidate independent media outlets.
“The subpoenas are an extraordinary escalation in President Trump’s efforts to threaten and intimidate independent news organizations, and have a chilling effect on the work of journalists across the country,” said Jodie Ginsberg of the Committee to Protect Journalists.
Media advocates and analysts expressed dismay at the tactic, even after months in which news organizations drawing President Donald Trump’s ire have been attacked both in courtrooms and in the court of public opinion; media access to corridors of power has been blocked; and a Washington journalist’s home has been searched by federal agents.
“They have used the levers of power to intimidate and demonize professional journalists who report stories that are unfavorable to the administration’s desired narrative,” said Frank Sesno, a former CNN White House bureau chief who is now a media and public affairs professor at George Washington University.
He called Friday’s subpoenas “dangerous and uncharted territory, but merely an extension of what we have seen from this administration and president.”
“Don’t like a poll? Sue the Des Moines Register. Don’t like the way an interview is edited? Sue ’60 Minutes.’ Don’t like the coverage of the gifted Air Force One? Order the FBI to investigate and subpoena the journalists for what is, by the way, a story that is in the public interest.”
Some of the subpoenas were delivered to reporters at homeSome of the subpoenas were delivered to reporters at their homes, the Times said. Sought by Jay Clayton, the U.S. Attorney in Manhattan, they seek to force the reporters to testify before a federal grand jury in Manhattan this week.
The new jet in question, a present from Qatar that the administration spent $400 million to retrofit and upgrade, entered service last week. But Trump used an older model Air Force One jet to leave a NATO summit in Turkey.
The Times, citing anonymous sources, reported the switch had come at the urging of the Secret Service, and that the newer plane lacked some of the advanced security features of the older aircraft, including antimissile capabilities. On social media, Trump denied security concerns.
The subpoenas were issued after FBI Director Kash Patel and other Justice Department officials met at the White House on Friday to talk about the matter, according to a person familiar with the discussions who was not authorized to discuss the issue publicly and spoke on the condition of anonymity. The Times said the meeting lasted around eight hours.
The fact that the operation was conducted from the White House itself was particularly egregious to analysts like Sesno, who called the coordination “unprecedented.”
“This graphically illustrates the pressure and influence the White House and president have brought to bear on law enforcement that is supposed to be independent and driven by facts, not politics,” he said.
The National Press Club called on the Justice Department “to immediately withdraw these subpoenas and reaffirm a principle that has long distinguished the United States: a free and independent press serves the people, not the government.”
“Every American should understand what is at stake,” Mark Schoeff Jr., the club’s president, said in a statement. “When federal agents arrive at the homes of journalists with subpoenas, it is not ordinary law enforcement. It is an extraordinary assault on the freedom of the press that strikes at the heart of the First Amendment.”
Trump’s animosity toward news outlets whose agenda runs counter to his own isn’t new. But in his second presidential term, he has launched an escalation, often harnessing the levers of the federal government or attempting to do so. These efforts has taken place both in actual courtrooms and in the court of public opinion.
The president has sued various news organizations whose coverage he dislikes. He has also threatened to revoke TV broadcast licenses. His FCC chairman is seeking to penalize shows like ABC’s “The View,” where some hosts speak out against Trump, by having the FCC explore revoking its exemption from equal-time rules.
The legal skirmishes include an escalating dispute between the media and Trump’s Defense Department over reporters’ access to the Pentagon. The Times has filed two lawsuits over a policy requiring journalists to be accompanied by escorts at the military complex.
The White House has also battled with The Associated Press over the news organization’s refusal to follow Trump’s executive order renaming the Gulf of Mexico. And it has battled with The Wall Street Journal over reporting about Jeffrey Epstein and his ties to the president — including an article that described a sexually suggestive letter that the newspaper said bore Trump’s signature.
Last month, the Justice Department issued and then withdrew subpoenas that sought to compel reporters at The Washington Post and the Wall Street Journal to testify before a grand jury, according to people familiar with the matter.
The Post confirmed that one of its journalists received a subpoena from the Trump administration as part of a broader crackdown on media leaks that in January also included the extraordinary step of an FBI search of the home of another journalist at the newspaper and the seizure of her electronic devices. The media world was stunned by the search of the home of reporter Hannah Natanson, who was covering Trump’s transformation of the federal government,
The Times is now gearing up for battle against what its lawyer, David McCraw, has called “this brazen act.”
In an internal memo seen by the AP, the paper’s executive editor, Joseph Kahn, criticized the subpoenas and said: “We expect to prevail. We have the best legal team in the business. … The law protects news gatherers from this sort of retaliatory abuse of prosecutorial power. It is essential that the courts reaffirm that protection and quash this overreach. We are confident they will in this case.”
Kahn praised the work of the five journalists — Tyler Pager, Eric Schmitt, Eric Lipton, Adam Goldman and Julian Barnes — and said they should know “that all of us as their colleagues, and the full resources of The Times, are behind them and that we will fight this legal abuse together.”
Jocelyn Noveck covers the intersection of media and entertainment for The Associated Press.
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Jay Clayton, United States Attorney for the Southern District of New York, speaks during a press conference in New York City, U.S., December 10, 2025. REUTERS/Jeenah Moon/File Photo Purchase Licensing Rights, opens new tab
CompaniesNEW YORK, July 14 (Reuters) - New York Times journalists have been issued subpoenas seeking to force them to testify before a Manhattan federal grand jury on Wednesday after reporting on security concerns over President Donald Trump's flight on the new Qatari-donated Air Force One.
Here's what the law says about compelling journalists to testify in criminal cases and how the New York Times might fight the subpoenas.
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WHY ARE THE JOURNALISTS BEING CALLED TO TESTIFY?Manhattan U.S. Attorney Jay Clayton issued the subpoenas on Friday, the Times said, ordering journalists to testify on Wednesday "in regard to an alleged violation of federal criminal law."
Times Executive Editor Joe Kahn said in a Saturday internal email reviewed by Reuters that five reporters were issued subpoenas "after they reported on security shortcomings of the Qatari-donated jet that forced the president to use an older government plane for his recent international travel."
The Times' top lawyer called the subpoenas a brazen attempt to intimidate journalists and vowed to fight them. The Justice Department would not confirm or deny the subpoenas but told Reuters on Friday it was targeting leakers of classified information, not journalists.
The new plane is a Boeing (BA.N), opens new tab 747 refitted by defense contractor L3Harris Technologies (LHX.N), opens new tab.
WHAT DOES THE LAW SAY?Journalists have limited legal protections against federal subpoenas.
The Supreme Court has held the First Amendment of the U.S. Constitution, which guarantees press freedoms, does not allow reporters to refuse subpoenas unless they are issued in bad faith or to harass them.
Federal courts have since recognized a qualified privilege weighing whether the information is essential, obtainable elsewhere and whether other factors outweigh press freedom. That protection is strongest in civil cases and weakest in criminal grand jury investigations.
Many states, including New York, have shield laws protecting journalists' sources. No federal equivalent exists, and state shield laws do not apply to federal subpoenas.
IS THIS UNUSUAL?Subpoenaing journalists requires top-level approval and is subject to limitations under Justice Department policies.
Both Republican and Democratic administrations have sought to compel journalists to reveal sources in leak probes, but press groups say Trump's Republican administration has used subpoenas and search warrants too freely, including against the Washington Post and Wall Street Journal. They also accuse Trump of using government power and private lawsuits to bully and harass the news media.
The Trump administration has said it is pursuing criminal charges against leakers, not targeting journalists.
WHAT COULD THE TIMES ARGUE?The Times has said it will fight the subpoenas. The newspaper could ask a judge to quash the subpoenas as overbroad, issued in bad faith or violating First Amendment protections.
It could also argue the Justice Department violated internal policy requiring prosecutors to weigh whether the information is essential, obtainable elsewhere and to negotiate with outlets first. Those policies are not enforceable in court, but judges can weigh them in considering the legitimacy of subpoenas.
The Justice Department previously withdrew grand jury subpoenas against Washington Post and Wall Street Journal reporters after they challenged them in sealed court filings.
The government had sought information from the Post about its reporting on U.S. military action in Venezuela, and from the Journal about an article concerning warnings to Trump about war with Iran, according to a New York Times report citing anonymous sources.
In January, press freedom groups criticized the FBI for taking the rare step of searching the home of a Washington Post reporter as part of a leak probe.
WHAT HAPPENS IF THE REPORTERS REFUSE TO TESTIFY?If prosecutors offer immunity, the journalists lose their Fifth Amendment right against self-incrimination and could be held in contempt for refusing to testify, risking jail time or fines until they comply. The Times could separately challenge a contempt ruling.
Reporting by Jack Queen in New York; Editing by Noeleen Walder and Christopher Cushing
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Jack Queen covers major lawsuits against the Trump administration involving urgent questions of executive power and how their resolution could affect the law and the legal profession in the years to come. Previously, he covered criminal and civil cases against Trump during the interim of his presidential terms, including gavel-to-gavel coverage of his historic hush money trial in New York and his civil fraud trial, which ended in a half-billion-dollar judgment. Jack has also covered high-profile defamation cases including the Dominion Voting Systems' lawsuit against Fox News, which settled for $787 million after intense pretrial litigation. Based in New York, he specializes in breaking news as well as analysis, explainers and other explanatory reporting.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 13, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304764
Source: Faruqi & Faruqi LLP
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Welcome back, Connectioneers! If you’re looking for help with today’s puzzling NYT Connections puzzle, I’m here to offer my assistance with some extra clues and the solutions to the Yellow, Blue, Green and Purple groups.
Today’s Connections is a doozy. Genuinely the hardest I’ve encountered in a very long time. I almost failed but thankfully made that third group of connections with just one guess left.
Be sure not to miss my weekend streaming guide for all the best new TV shows and movies out this weekend to stream at home or go see at a movie theater. Project Hail Mary is out on streaming, and a bunch of new shows just dropped on Netflix, Apple and elsewhere.
ForbesWhat To Watch This Weekend: New Shows And Movies To Stream On Netflix, Hulu, Prime Video, Apple TV And MoreBy Erik Kain
Today’s Connections is a 5/5 difficulty according to Connections Bot. Shall we?
If you’re looking for Saturday’s Connections guide, it’s right here.
How To Play ConnectionsConnections is the second-most popular NYT Games puzzle game outside of the main crossword itself, and an extremely fun, free offering that will get your brain moving every day. Play it right here.
Play Puzzles & Games on Forbes
The goal is to take a group of 16 words and find links between four pairs of four of them. They could be specific categories of terms, or they could be little world puzzles where words may come before or after them you need to figure out. And they get more complicated from there.
There is only one set of right answers for this, and you only get a certain number of tries so you can’t just spam around until you find something. There are difficulty tiers coded by color, which will usually go from yellow, blue/green to purple as difficulty increases, so know that going in and when you start linking them together.
You pick the four words you think are linked and either you will get a solve and a lit up row that shows you how you were connected. If you’re close, it will tell you that you’re one away. Again, four mistakes you lose, but if you want to know the answers without failing, either come here, or delete your web cookies and try again. If you want to play more puzzles, you can get an NYT Games subscription to access the full archives of all past puzzles.
NYT Connections Hints And Answers – Sunday, July 12Below, we’ll get into some extra hints for each Connections group – Yellow, Blue, Green and Purple – and then the official clues and answers.
Here are today’s Connections words:
Here are today’s Connections words:spreestudydensleepnerdmadpartypitsacseeddotrepeatphostoneruntpipHere’s an Extra Hint for Each Connections Group🟡Yellow group – Inside peaches, for instance.🔵Blue group – Cramming for that test.🟢Green group – Sugary treat🟣Purple group – CitiesOne Word for Each Connections Group: 🟡Yellow group – stone🔵Blue group – sleep🟢Green group – nerd🟣Purple group – MadWhat Are Today’s Connections Groups?Alright, the full spoilers follow here as we get into what the groups are today:🟡Yellow group – Reproductive part of fruit🔵Blue group – Verbs in a college life slogan🟢Green group – Bit of fruit-flavored candy🟣Purple group – Starts of US captialsWhat Are Today’s Connections Answers?The full-on answers are below for each group, finally inserting the four words in each category. Spoilers follow. The Connections answers are:🟡Yellow group – pip, pit, seed, stone🔵Blue group – party, sleep, study, repeat🟢Green group – dot, nerd, runt, spree🟣Purple group – DENver, MADison, PHOenix, SACrementoHere’s the finished grid:
Today's Connections
Screenshot: Erik Kain
Today’s NYT Connections was a 5/5 on the Connections Bot difficulty scale and it was quite challenging. I managed to get the Blue words, which I think were the most obvious, before the Yellow words. I was pretty close on the Yellow group, with PIT, SEED and STONE but I just wasn’t sure about the fourth one (maybe because now I associate PIP with dice and dominos).
Once I was down to just 8 words, I was pretty flummoxed. Baffled. How did delicious Vietnamese PHO relate to NERD candies? I finally started finding other candies, ones I’m not as familiar with, and had DOT, NERD and RUNT lined up. I took a guess with SPREE and lucky for me, that was the connection. I input the remaining words and, of course, once I understood the connection between them it seemed obvious. So obvious!
How’d you do on today’s Connections? Let me know on Twitter, Instagram, or Facebook.
Find more guides to Wordle, Pips and Strands on my blog where you can also follow me for TV and movie and video game coverage. Let me know if you have any fun puzzle games in your rotation that I should try on Twitter, Instagram, or Facebook. Have a great Sunday!
U.S. President Donald Trump deboards the new Air Force One, a plane gifted by Qatar, upon arrival at Ellsworth Air Force Base in Belle Fourche-Cheyenne Valleys, South Dakota, U.S., July 3,... Purchase Licensing Rights, opens new tab Read more
CompaniesWASHINGTON, July 11 (Reuters) - The New York Times said on Saturday that the U.S. Department of Justice had ordered several of its journalists to testify before a federal grand jury after they reported on security concerns involving President Donald Trump's new Qatari-donated Air Force One.
The media organization said subpoenas were issued on Friday, asking that the journalists appear before a grand jury on Wednesday to testify "in regard to an alleged violation of federal criminal law."
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The subpoenas were issued by Jay Clayton, the U.S. Attorney in Manhattan, and in some cases delivered to reporters' homes by federal agents, the news outlet reported. It described the move as "an extraordinary escalation in President Trump's efforts to threaten and intimidate independent news organizations."
In a statement to Reuters, a Department of Justice spokesperson did not confirm or deny the subpoenas but said the administration was not targeting reporters but was concerned about people leaking classified information. The White House referred all questions to the Justice Department.
Journalism advocacy groups criticized the subpoenas as a threat to press freedom and constitutional rights.
The National Press Club urged the Justice Department to "immediately" withdraw the subpoenas.
"When federal agents arrive at the homes of journalists with subpoenas, it is not ordinary law enforcement," the club said in a statement. "It is an extraordinary assault on the freedom of the press that strikes at the heart of the First Amendment."
Clayton was recently nominated by Trump to lead the Office of the Director of National Intelligence. The Reporters Committee for Freedom of the Press called on the U.S. Senate Intelligence Committee to hold Clayton accountable when he appears for his confirmation hearing next Wednesday.
Trump said on Wednesday that he would use an older Air Force One "for old time's sake" to fly from Ankara to the Royal Air Force base at Mildenhall in Britain while the new plane stopped at the same base so U.S. service members stationed there could tour the aircraft.
Video late on Wednesday showed Trump boarding the new Air Force One gifted by Qatar at the British base as it prepared to fly to the U.S.
Reporting By Lucia Mutikani and Jarret Renshaw; Editing by Philippa Fletcher and Mark Porter
Our Standards: The Thomson Reuters Trust Principles., opens new tab
The publication countersued the Equal Employment Opportunity Commission, alleging a discrimination suit it filed on behalf of white, male editor is unlawful
The New York Times accused the U.S. Equal Employment Opportunity Commission of illegally retaliating against the newspaper for its coverage of the agency by suing it for passing over a white man for a top editorial role, it said in a court filing on Friday.
The New York Times and The Daily News claim that OpenAI has been lying about its ability to search customer chat log data and training datasets for their copyrighted works. It’s the latest escalation in a two-year lawsuit against the AI firm for allegedly violating copyright law by training its generative AI models on the Times’ content and reproducing that journalism in user outputs.
Throughout the case, OpenAI has argued that it lacked the ability to search its own training corpus. It also argued that searching or producing its massive collection of ChatGPT conversations would be technically burdensome and would raise user-privacy concerns because the logs would need to be retrieved, processed, and de-identified. The outlets sought that data to determine whether their copyrighted journalism was present in OpenAI’s training dataset and whether and how often ChatGPT generated responses using or reproducing their content.
In an April court-ordered deposition, OpenAI data privacy engineer Vinnie Monaco allegedly revealed that OpenAI had already conducted internal searches and evaluations of its training corpus to search for copyrighted journalism works.
Monaco’s deposition also allegedly revealed that, beginning before the NYT filed its lawsuit, OpenAI had already amassed a database of about 78 million de-identified ChatGPT conversations that it was using internally to determine how much it was infringing on others’ works. On top of that dataset, OpenAI also allegedly implemented a “Bloom” filter as part of a set of tools called “Project Giraffe,” which detected and kept a record of regurgitation in outputs, shortly after the lawsuit was filed.
Those last two revelations are particularly significant. The plaintiffs had originally asked OpenAI to provide a sample of 120 million chat logs, but OpenAI had negotiated to bring the sample down to just 20 million. OpenAI finally submitted that sample to the courts last December, but it had allegedly included so many redactions as to render the sample “unusable,” in the court’s words. The plaintiffs also claimed OpenAI deleted billions of ChatGPT outputs after they filed suit in direct violation of the court’s preservation order, and that the AI giant substituted millions of logs in the requested sample.
In other words, they claim OpenAI made it needlessly difficult to obtain information that the company had already collected.
“If OpenAI genuinely believed that copying our clients’ journalism was fair and legal, it wouldn’t have hid the truth about having done it,” Ian B. Crosby, lead counsel for the plaintiffs, said in a statement.
Now, the NYT and The Daily News are asking the judge to discipline OpenAI for allegedly withholding evidence and messing with the discovery process. They are asking the court to prevent OpenAI from using the 20 million chat log sample as evidence, claiming it is unreliable; to accept as fact that ChatGPT logs would have shown major regurgitation and grounding of the plaintiffs’ content; to prevent OpenAI from arguing that its provided chat logs don’t demonstrate substantial regurgitation; and to make OpenAI pay legal fees for having to chase down this evidence.
In a statement, OpenAI spokesperson Drew Pusateri denied the allegations, accusing the Times of trying to access private user conversations as its case weakens.
“As the Times’ case weakens and they’ve been forced to drop claims against us, they’re persisting with their efforts to invade the privacy of people who have nothing to do with this case, including by making these blatantly false allegations,” Pusateri said. “We’ll continue defending our users’ privacy and the long-established principles of fair use.”
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Rebecca Bellan is a senior reporter at TechCrunch where she covers the business, policy, and emerging trends shaping artificial intelligence. Her work has also appeared in Forbes, Bloomberg, The Atlantic, The Daily Beast, and other publications.
You can contact or verify outreach from Rebecca by emailing [email protected] or via encrypted message at rebeccabellan.491 on Signal.
OpenAI logo is seen in this illustration taken June 11, 2026. REUTERS/Dado Ruvic/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 9 (Reuters) - A group of newspapers including the New York Times (NYT.N), opens new tab and New York Daily News asked a federal court in Manhattan on Thursday to sanction OpenAI in their high-stakes copyright dispute for allegedly lying to the court about its ability to search its systems for proof that it misused millions of their articles in AI training.
The newspapers told the court, opens new tab in a filing that OpenAI falsely told the court it could not search its large language models for their copyrighted material while hiding that it had done so "even before the first News Plaintiff filed suit."
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The newspapers said that OpenAI had also deleted billions of relevant ChatGPT conversations or made them unsearchable. They asked the court for sanctions, including attorneys' fees, and a court finding that OpenAI's chat logs showed that the company misused their copyrighted works.
Spokespeople for OpenAI did not immediately respond to a request for comment on the motion.
The lawsuit, first filed by the Times in 2023, accused OpenAI and its largest financial backer Microsoft (MSFT.O), opens new tab of using millions of its articles without permission to train the large language model behind OpenAI's popular chatbot ChatGPT.
The case is one of many brought by copyright owners including authors, visual artists and music labels against tech companies such as OpenAI, Anthropic and Meta Platforms for allegedly misusing their material to train AI systems.
“For over two years, OpenAI lied to The Times, The Daily News Plaintiffs, the public, and the court," the New York Times' lead attorney Ian Crosby said in a statement. "It claimed searching ChatGPT outputs for copies of The Times’ and the Daily News Plaintiffs’ content was infeasible, burdensome, and invasive of users' privacy – while at the same time concealing that it had already done such searches."
OpenAI previously told the court that it did not have tools to search its datasets and output logs for copyrighted material, but an OpenAI employee later testified that the company had "performed multiple searches for News Plaintiffs’ content," according to the newspapers' Thursday filing.
Reporting by Blake Brittain in Washington; edited by David Gaffen
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Blake Brittain reports on intellectual property law, including patents, trademarks, copyrights and trade secrets, for Reuters Legal. He has previously written for Bloomberg Law and Thomson Reuters Practical Law and practiced as an attorney.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - July 9, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304588
Source: Faruqi & Faruqi LLP
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New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 8, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NasdaqGS: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=FQIEqld_vCU
Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ses/?prs=nf to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
The New York Times' top editor explains why its new push into video is a 'race against time'
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Chief Correspondent covering media and technology
New York Times Executive Editor Joe Kahn says his company is in "a race against time" to get trustworthy video onto internet platforms before they're overwhelmed with "AI-generated slop." Bloomberg/Getty Images Remember pivot to video?
For those of you who weren't paying attention to the media industry a decade ago: That was when publishers spent an enormous amount of time and money trying to turn themselves into video-makers, in the hopes of cashing in on a Facebook-fueled traffic and revenue bonanza.
That one didn't pan out.
But now publishers are trying it again, making videos that live on their own sites and are designed to travel on the internet. You can see a very prominent example of this right now over at The New York Times, which routinely shows you videos of its reporters talking about the news on its homepage.
"It's as big a transformation as the print-to-digital transformation" that kicked off a couple decades ago, says Joe Kahn, the Times' top editor.
Unlike like the last video push — done in large part at the behest of Facebook, which provided all kinds of incentives for publishers to make video — the Times doesn't view video as a money-maker, for now.
Instead, Kahn says his company simply has to make video — because that's what news consumers want. And not making New York Times video means that they'll watch something else instead.
"We will always provide good journalism in text form," he told me in an interview this week. "But the idea that we can just continue to refine the text form as people's viewing habits shift, I think is kind of head in the sand."
Kahn and I talked about a lot of other topics during our chat, which you can hear in its entirety on my Channels podcast. Among them: How Kahn processes continual critiques of the Times for over- or underplaying different stories; how the revelation that Dianna Russini, the former star reporter at the Times-owned Athletic, was making $800,000 a year was going over with his staff; and why Kahn is less interested than other media leaders in integrating Substackers and other creator economy types into the Times.
The following is an edited excerpt of our conversation:
Peter Kafka: There's a ton of video on the Times site right now. Is that for existing readers? Is it to bring in new readers?
Joe Kahn: It's the biggest and most important transformation that's underway now in the newsroom — what we believe is our own proprietary formula for integrating great video journalism with the rest of our journalism.
I believe it has the potential to allow us to bring really good quality, original reporting to a much larger audience than we currently have.
Does that mean more people will come to the Times because there's video on it? Or is it that the video will be distributed on TikTok and Reels?
Both. It's a way to push journalism out to a wide demographic of curious people out there on the internet, who prefer to get news and information in short-form video, with a direct conversational approach from an expert journalist. Or to be taken to the scene of a news event and exposed directly to what that individual is seeing and reporting at the time.
It's traveling very well on TikTok and Instagram and YouTube Shorts. But it's also performing very well on our own site.
Is the profile of someone who's watching video on The New York Times different than someone who's reading The New York Times?
On our own site, no. We're getting really good reaction from subscribers who are reading and watching.
Off platform, I do think we are reaching an audience that is not habituated to reading long-form journalism — but is very open to having a journalist, who has spent days, weeks, sometimes months reporting on a certain subject, give them a two- or three-minute summary of that work. In two or three minutes, you can convey quite a bit of really valuable information.
Those are doing enormously well in people's feeds, and are introducing people to our journalists and the work that they're doing.
It's long-arc work. It's not part of the link economy the way Google Search was.
You don't believe people are watching a New York Times video on TikTok and then moving over to the Times site to read more?
We know that people who discover journalism through Google will come and interact with that journalism directly, and some of those become habituated readers.
There's less of a direct pathway for these videos. But we're not worried about that in the moment.
What we're worried about is making sure that we compete with really good-quality journalism on these platforms, which are otherwise being inundated with slop.
You want to be there saying, "We're The New York Times, we're delivering good information. You may not show up on our site for a long time, but we want you to know we're here."
I agree with that.
And you're not monetizing that.
There's no immediate way to monetize that, and we're not worried about monetizing it now.
I believe strongly that as people get more exposed to high-quality reporting and information on their feeds, in the form that they want, they'll want more of that.
It will raise their expectations for what good reporting is. It will differentiate us from influencers who are not doing original reporting, and it will help seed the environment for quality news and information.
Journalists have all kinds of different skills. What happens to reporters who are not good on camera, or not comfortable on camera, or don't want to be on camera? How should they be thinking about their careers?
There will be plenty of reporters who don't have a video presence. We're not insisting that everybody does.
At the moment, we have a little bit of the opposite problem. The demand to have video to accompany the good journalism that we're doing is exceeding the supply of it that we can do.
People are knocking on your door and saying, "I wanna be on camera."
We're adding scores of video journalists on all the news desks in order to have more ability to do video-first journalism.
An individual journalist and a couple of editors can produce a piece of text journalism. You have to multiply that times two or three to get a video that's two minutes long, that's integrating graphics, that's integrating clips.
You've been at this job for the last four years, and you'll have it for another four years. What's at the top of your to-do list for that stretch?
The transformation of The New York Times newsroom into what I expect will be the leading multimedia news organization, where we're providing journalism in multiple forms — including video-first forms that serve a much larger readership — is massive.
It's as big a transformation as the print-to-digital transformation that I and many others were involved in for the last 15 or 20 years. This is as big a structural adjustment for us and a priority in terms of our journalistic storytelling as that.
I'm surprised to hear you put that much emphasis on it. I would think, "Alright, you've got a dedicated team that makes videos, and some of your reporters will be on camera."
It's going to touch every part of the newsroom, and the way that we do a large subset of our stories.
I think that we need to be prepared. We will always provide good journalism in text form. But the idea that we can just continue to refine the text form as people's viewing habits shift, I think is kind of head in the sand.
We're in a race against time to make sure that good-quality journalism competes with AI-generated slop and influencer-generated non-original journalism out there on the internet. It's imperative for us to be able to translate the good work that we're doing into the forms that people want to consume their journalism in.
And if in the next four years — it's going to take a lot longer to realize it at scale — but if in the next four years we can make a really important down payment on integrating into the core of The New York Times, I'll consider that to be a pretty significant transformation of the place.
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Peter Kafka You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Peter covers media and technology for Business Insider; previously he has worked at Vox, Recode, AllThingsD, and Forbes. He was also the first hire at Silicon Alley Insider, Business Insider's predecessor.
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 7, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=FQIEqld_vCU
Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ses/?prs=nf to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - July 7, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor— typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304086
Source: Faruqi & Faruqi LLP
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Whisker Labs' Ting sensors support Kingstone's proactive approach to loss prevention, offered at no cost to eligible New York policyholders through vipHomeLink July 07, 2026 08:30 ET | Source: Kingstone Companies
KINGSTON, N.Y., July 07, 2026 (GLOBE NEWSWIRE) -- Kingstone Companies, Inc. (Nasdaq: KINS) (“Kingstone” or the “Company”), a regional property and casualty insurance holding company, today announced a new loss-prevention initiative under which its principal operating subsidiary, Kingstone Insurance Company (“KICO”), will provide Ting smart sensors and three years of electrical fire prevention service at no cost to eligible New York homeowners insurance policyholders. The program, enabled through Kingstone’s new partnership with vipHomeLink, a homeowner engagement and prevention platform serving the insurance industry, reflects the Company’s continued focus on proactive risk management and policyholder engagement.
“Our policyholders trust us to help protect their homes and families, and we take that responsibility very seriously,” said Meryl Golden, President and Chief Executive Officer of Kingstone. “The best claim is the one that never happens, both for the family involved and for the quality of our book of business. By offering Ting at no cost through our partnership with vipHomeLink, we are helping homeowners identify hidden electrical fire hazards before they become devastating losses.”
The Ting program extends the disciplined approach to risk management that underpins Kingstone’s operating model. Alongside the Company’s focus on risk selection, rate adequacy, and claims execution, proactive loss prevention is intended to help reduce the frequency and severity of avoidable losses over time. Electrical fires and water-related damage are among the most common and costly homeowner perils, and Ting’s electrical fire hazard detection and frozen pipe alerts are designed to help address both.
Ting is a plug-in sensor and fire prevention service from Whisker Labs designed to detect electrical fire hazards. Using advanced sensing and intelligence, Ting helps detect hidden electrical fire hazards that can originate from incoming power, plugged-in devices, wiring behind walls, and appliances. When a hazard is detected, Ting’s Fire Safety Team works directly with the homeowner to help resolve the problem. Ting also provides power outage and frozen pipe risk alerts, extending prevention beyond fire to help reduce other common and costly home risks.
“Electrical fire hazards are often hidden until it’s too late,” said Bob Marshall, Co-Founder and CEO of Whisker Labs. “Together with Kingstone Insurance Company and vipHomeLink, we’re helping more families take a proactive step towards prevention.”
According to the National Fire Protection Association, an electrical fire occurs in a U.S. home approximately every 10 minutes. Whisker Labs reports that Ting helps prevent approximately four out of five electrical fires, is used by more than one million homeowners and, to date, has helped prevent more than 30,000 potentially devastating fires.
“We’re pleased to welcome Kingstone as a new prevention partner and to support its policyholders,” said Geoff Martin, CEO & Co-Founder of vipHomeLink. “By including Ting in Kingstone’s loss prevention strategy, alongside the vipHome.app experience, we’re able to provide homeowners with proactive tools, timely reminders, and insights that help them reduce risk and make their homes safer.”
Kingstone’s Ting program is expected to launch in July 2026.
About Kingstone Companies, Inc.
Kingstone is a regional property and casualty insurance holding company whose principal operating subsidiaries write business through retail and wholesale agents and brokers. Kingstone delivers tailored homeowners insurance solutions through its sophisticated product suite, Select, supported by a scalable and efficient operating platform that enables the Company to pursue significant market opportunities and strategic expansion. Kingstone was the 11th largest writer of homeowners insurance in New York in 2025 and also writes homeowners coverage in California on a non-admitted basis.
About vipHomeLink Holdings, Inc.
vipHomeLink is a homeowner engagement and prevention platform. Its platform and suite of services enable insurance carriers to seamlessly execute scalable prevention programs that reduce home insurance claims and improve customer retention over time. Through its innovative carrier-branded application, homeowners proactively maintain and digitally manage their home while improving its safety, efficiency and value. The highly personalized solution simplifies homeownership by providing members with expert guidance, property-specific home tips and alerts, a personal Home Fitness Index™ and other valuable benefits. www.viphomelink.com
About Whisker Labs
Whisker Labs develops cutting-edge, AI-powered sensor technology that protects families, homes, and communities by predicting and preventing electrical fires while also monitoring the resiliency and safety of the U.S. electrical grid. Its flagship solution, Ting, draws on decades of electromagnetic and atmospheric sensor expertise to detect electrical faults. While a single Ting sensor helps protect a home, the collective network of sensors monitors the grid to deliver Ting Insights, the most comprehensive source for grid reliability, safety, and resilience intelligence. As one of the fastest-growing IoT networks, Ting is proven to prevent 4 out of 5 electrical fires, reducing home fire losses and saving lives across the U.S. every day. For more information visit www.whiskerlabs.com and www.tingfire.com.
Contacts:
Kingstone Investor Relations Contact
Elevate IR [email protected]
720-330-2829
vipHomeLink Contact
Geoff Martin, CEO
vipHomeLink Holdings, Inc. [email protected]
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. For more details on factors that could affect expectations, see Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025.
Kingstone undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 6, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
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https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ses/?prs=nf to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - July 6, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304068
Source: Faruqi & Faruqi LLP
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New York, New York and Rockville, Maryland--(Newsfile Corp. - July 6, 2026) - OS Therapies, Inc. (NYSE American: OSTX) ("OS Therapies" or "the Company"), the world leader in gene-edited, Listeria-based cancer immunotherapies, today provides a third quarter 2026 corporate outlook. The outlook focuses on upcoming clinical and regulatory milestones for the Company's lead program OST-HER2 in the prevention or delay of recurrence in fully resected, pulmonary metastatic osteosarcoma (the "Metastatic Osteosarcoma Program"), advancements with the Company's animal health-focused subsidiary OS Animal Health, Inc. (OSAH) and the Company's financial position as key regulatory and corporate milestones come into focus.
OST-HER2 Metastatic Osteosarcoma Program
OS Therapies recently announced full alignment with the European Medicines Agency (EMA), the U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) and Australia's Therapeutic Goods Administration (TGA) with respect to the necessary requirements to be granted Conditional Marketing Authorisation Applications (CMAAs). The key outstanding milestones are 3-year overall survival data, which EMA, MHRA and TGA have aligned around to support early market access, and the Pediatric Investigation Plans (PIP) for each jurisdiction. Prior to being granted CMAAs in Europe, the U.K. or Australia, the Company must have commenced a confirmatory Phase 3 clinical study. This Phase 3 study is expected to initiate towards the end of the third quarter of 2026, initially in Australia only and after early market access is decided upon then in the U.K., Europe and the United States. MHRA and TGA have both agreed to allow the Company to initiate the Phase 3 study with the same OST-HER2 drug product batch that was used in the Phase 2b trial and is currently being administered to Expanded Access patients in the United States.
Full alignment has been reached with EMA, MHRA and TGA in the following areas:
Non-ClinicalChemistry, Manufacturing and Controls (CMC)Clinical SafetyConfirmatory Phase 3 protocol designHistorical Control ComparatorInitiation of the confirmatory Phase 3 protocol with existing Phase 2 drug productOS Therapies was granted Advanced Therapy Medicinal Products (ATMP) designation in Europe and the U.K., which permitted access to additional resources from local regulators to support CMAA submissions. The Company is making significant progress towards alignment on the PIP – including a first round of positive feedback from the EMA PDCO - and has received a submission window of September 30, 2026 from EMA for the CMAA. With MHRA and TGA, the Company is in ongoing dialogue to identify the earliest possible date to complete CMAA submissions and is making significant progress towards PIPs.
"Given that 100% of patients who achieved 1-year event free survival (EFS) also achieved overall survival at the 2-year and 2.5-year timepoints, and the knowledge that 100% of patients who did not achieve 1-year EFS while achieving 2-year overall survival also achieved 2.5-year overall survival, we believe the sustained clinical benefit data package emerging for OST-HER2 will be compelling for regulators in comparison with the bleak 3-year overall survival outlook metastatic osteosarcoma patients have," said Dr. Craig Eagle, Chief Medical Advisor and member of the OS Therapies Board of Directors. "While the 1-year EFS data favored OST-HER2-treated patients in a statistically significant manner when compared with historical control data, the biomarker data was highly correlated with 2.5 year overall survival."
Overall Survival by Immune Response Gene Composite (Baseline vs Post 3rd Dose)
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As a result of the initiation of the CMAA process with EMA, coordination has begun between EMA and the U.S. Food & Drug Administration (FDA) with respect to the OST-HER2 regulatory dossier. OS Therapies completed the submission to FDA of the non-clinical and clinical Biologics License Application (BLA) modules in January 2026, and has since completed a Type C Phase 3 protocol design meeting where alignment was achieved on the design of the Phase 3 protocol, as well as alignment on outstanding non-clinical, CMC and clinical safety matters. The Company recently released 2.5-year overall survival clinical efficacy data and is awaiting the date for the requested Type B Statistical Methods meeting being scheduled to align on the methods to evaluate clinical efficacy for the 2.5-year timepoint, the use of historical control and/or OST-400 as appropriate comparator(s) to interpret clinical efficacy, Rolling Review and Regenerative Medicine Advanced Therapy (RMAT) designation. OS Therapies expects this meeting to set the stage for 3-year overall survival data to be used to support the complete BLA submission. Following that Type B Statistical Methods meeting, the Company expects to hold its previously announced invited Type B Pre-BLA meeting in early Fall of 2026, following the completion of the remaining aspects of the BLA submission, to review the entire BLA dossier in an effort to be granted early market access under Accelerated Approval in the U.S.. FDA accepted the Company's letter of intent for the Commissioner's National Priority Review Voucher (CNPV) program in January 2026.
OSAH Clinical, Regulatory and Corporate Progress
The Company recently announced the peer-reviewed publication of new data showing OST-HER2 combined with radiation significantly improved survival in frontline canine osteosarcoma when compared against radiation alone. This adds to previously published data showing that OST-HER2 was effective in treating fully resected metastatic osteosarcoma, as well as unresectable metastatic osteosarcoma when compared with the current standards of care. Canine osteosarcoma data is what originally catalyzed the OST-HER2 human clinical development program.
Following CMC alignment with FDA, EMA, MHRA and TGA, the Company is now in a strong position to review with the U.S. Department of Agriculture (USDA) its regulatory strategy to bring OST-HER2 back into the market to treat canine osteosarcoma. The Company expects to hold a meeting with USDA in the summer of 2026 to review the program and gain alignment on OST-HER2's path to return to the market for canine osteosarcoma. Following that meeting, the Company expects to launch a crowdfunding round in order to expand OSAH's shareholder base prior to completing its previously announced 'go-public' transaction.
OSAH confidentially filed a registration statement on Form S-1 in January 2026 in support of its 'go-public' strategy. The Company reiterates that it intends to grant shares of OSAH to shareholders of OS Therapies.
OS Therapies Financial Position
OS Therapies recently announced that it has entered into a $10 million line of credit (LOC) supported by its OS Therapies U.K., Ltd subsidiary's value added tax (VAT) reimbursements and Research and Development (R&D) Tax Credits. Each draw taken from the LOC is to be repaid within 9 months of issuance, with repayment of the first draw of $1.6 million received by the Company on July 2, 2026 expected no later than April 2, 2027. The Company currently has $5.6 million in outstanding combined VAT and R&D Tax Credits, with an additional $4.6 million expected to be accrued by year-end 2026. The Company did not provide security interest in its intellectual property.
Simultaneously, OS Therapies significantly reduced its expenses in the second quarter of 2026 when compared with the first quarter of 2026 largely driven by completion of biomarker-related expenses that were incurred entirely in the first quarter alongside significant expenses associated with preparing regulatory dossiers to support the submission of the non-clinical and CMC modules, as well as the finalization of the clinical safety section and preparation of interim clinical efficacy data and comparator data for review with FDA, EMA, MHRA and TGA. With OST-400 recruitment now having achieved critical mass, the Company expects to further reduce expenses associated with the Phase 2b clinical program. The Company expects to spend a total of $1 million to open the confirmatory Phase 3 program in Australia, with a significant portion of those expenses having already been spent in the second quarter of 2026.
As a result, the Company reiterates that it has sufficient cash and cash resources, primarily from the LOC, to continue operations into 2027.
OST-HER2 has received Orphan Drug Designation (ODD), Fast Track Designation (FTD) and Rare Pediatric Disease Designation (RPDD) from the FDA, and ODD, FTD and ATMP from the EMA and MHRA. Under the RPDD FDA program, if the Company receives a BLA in the United States, it will become eligible to receive a Priority Review Voucher (PRV) that it intends to sell. The Company is seeking to obtain a BLA under the Accelerated Approval Program for OST-HER2 in osteosarcoma by year-end 2026 in the U.S., in addition to conditional Marketing Authorisation Applications in Europe, the U.K. and Australia.
About OS Therapies
OS Therapies is a clinical stage oncology company focused on the identification, development, and commercialization of treatments for Osteosarcoma (OS) and other solid tumors. The Company is the world leader in gene-edited, Listeria-based cancer immunotherapies. OST-HER2, the Company's lead asset, is an immunotherapy leveraging the immune-stimulatory effects of Listeria bacteria to initiate a strong immune response targeting the HER2 protein. OST-HER2 is designed to target two mutated extracellular epitopes and one mutated intracellular epitope of the HER2 oncogene, requiring only one of these three epitopes to be present in a tumor (or micro-metastasis) to trigger the desired immune response. OST-HER2 has received Orphan Drug Designation (ODD), Fast Track Designation (FTD) and Rare Pediatric Disease Designation (RPDD) from the U.S. Food & Drug Administration and has received ODD, FTD and Advanced Therapy Medicinal Products (ATMP) from the European Medicines Agency.
The Company reported positive data in its Phase 2b clinical trial of OST-HER2 in the prevention or delay of recurrence in fully resected, pulmonary metastatic osteosarcoma, demonstrating clinically significant benefit in the 12-month event free survival (EFS) primary endpoint of the study and the overall survival (OS) secondary endpoint. The Company is seeking a Biologics License Application (BLA) from the U.S. FDA for OST-HER2 in osteosarcoma in 2026 and, if approved, would become eligible to receive a Priority Review Voucher that it could then sell. The Company also anticipates receiving Conditional Marketing Authorisation Applications from the U.K.'s Medicines and Healthcare products Regulatory Agency and the EMA for OST-HER2 in 2026. OST-HER2 has completed a Phase 1 clinical study primarily in breast cancer patients, in addition to showing preclinical efficacy data in various models of breast cancer. OST-HER2 has previously been conditionally approved by the U.S. Department of Agriculture for the treatment of canines with osteosarcoma. The Company has also completed dosing in a Phase 1 study of OST-504 for castration-resistant prostate cancer.
In addition, OS Therapies is advancing its next-generation Antibody Drug Conjugate (ADC) and Drug Conjugates (DC), known as tunable ADC (tADC), which features tunable, tailored antibody-linker-payload candidates. This platform leverages the Company's proprietary silicone Si-Linker and Conditionally Active Payload (CAP) technology, enabling the delivery of multiple payloads per linker. For more information, please visit www.ostherapies.com.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of OS Therapies and members of its management, as well as the assumptions on which such statements are based. OS Therapies cautions readers that forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to the potential approval of OST-HER2 by the U.S. FDA and other risks and uncertainties described in "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent documents the Company files with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by the federal securities laws, OS Therapies specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - July 4, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303771
Source: Faruqi & Faruqi LLP
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New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 2, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
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PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pics/ to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Company secures $10 million line of credit supported by OS Therapies UK tax creditsNew York, New York and Rockville, Maryland--(Newsfile Corp. - July 2, 2026) - OS Therapies, Inc. (NYSE American: OSTX) ("OS Therapies" or "the Company"), the world leader in gene-edited, Listeria-based cancer immunotherapies, today announced that it has appointed Dr. Craig Eagle to the Company's Board of Directors. Dr. Eagle currently serves as the Company's Chief Medical Advisor. The Company also thanks Karim Galzahr for his service to the Board of Directors and will continue as a member of the Company's advisory board.
"Having enjoyed participating in recent U.S., European and U.K. regulatory meetings as we prepare for a late third quarter initiation of the confirmatory Phase 3 study for OST-HER2 in the prevention or delay of recurrence of fully resected, pulmonary metastatic osteosarcoma, we have now reached consensus on the vast majority of key items that pave the way for potential early market authorizations in late 2026," said Dr. Craig Eagle, Chief Medical Advisor and Board Member of OS Therapies. "The progress made on the sustained OST-HER2 overall survival benefit compared with historical control at the 2.5-year timepoint, the unique biomarker signature that predicts that overall survival benefit, as well as critical mass now having been reached in the recruitment into OST-400 all give me confidence as we prepare for U.S. Food & Drug Administration (FDA) Type B Statistical Methods and, thereafter, Type B Pre-BLA meetings to gain full regulatory alignment prior to completing the submission of our ongoing Biologics License Application submission under the Accelerated Approval Program. We are hopeful for decisions on Rolling Review, Regenerative Medicine Advanced Therapy (RMAT) and Breakthrough Therapy designations following the Type B Statistical Methods Meeting."
Dr. Eagle most recently served as Guardant Health's Chief Medical Officer. Prior to joining Guardant Health, Dr. Eagle served as Vice President of Medical Affairs Oncology for Genentech, where he oversaw the medical programs across the oncology portfolio and developed innovative cancer trials and strategies in personalized health care. Prior to Genentech, Dr. Eagle held several leadership roles at Pfizer, including oncology business lead for the United Kingdom and Canada, global lead for Oncology Strategic Alliances and Partnerships, and global head of the Oncology Therapeutic Area Global Medical and Outcomes Group, where he oversaw the U.S. oncology business. Dr. Eagle attended medical school at the University of New South Wales in Sydney, Australia and received his general internist training at Royal North Shore Hospital in Sydney.
"We are thrilled to have Dr. Eagle join our Board of Directors as we look to transition from a development-stage company into a commercial healthcare organization over the next year," said Paul Romness, MPH, Chairman & CEO of OS Therapies.
Concurrent with this announcement, the Company announced a $10 million line of credit (LOC) supported by the Company's wholly-owned subsidiary OS Therapies U.K. tax credits. The Company will receive an initial draw of $1.6 million that primarily supported the second phase OST-HER2 commercial manufacturing following the receipt of global regulatory alignment on the commercial manufacturing pathway for OST-HER2. OS Therapies UK currently has accumulated approximately $5.86 million in pending tax credit refunds and expects to have accumulated a total of $10.2 million through year-end 2026. The Company did not provide security interest in its intellectual property as part of the LOC agreements.
"With a reliable way to monetize the significant R&D investments we made in the fourth quarter of 2025 and the first quarter in the U.K. subsidiary, combined with significantly reduced expenses projected for the third quarter, the Company reiterates that it expects to have sufficient cash and cash resources to provide runway into 2027," said Chris Acevedo, CPA, Chief Financial Officer of OS Therapies.
OST-HER2 has received Orphan Drug Designation (ODD), Fast Track Designation (FTD) and Rare Pediatric Disease Designation (RPDD) from the FDA, and ODD, FTD and ATMP from the EMA. Under the RPDD program, if the Company receives a BLA in the United States, it will become eligible to receive a Priority Review Voucher (PRV) that it intends to sell. The Company is seeking to obtain a BLA under the Accelerated Approval Program for OST-HER2 in osteosarcoma by year-end 2026 in the U.S., in addition to conditional Marketing Authorisation Applications in Europe, the U.K. and Australia.
About OS Therapies
OS Therapies is a clinical stage oncology company focused on the identification, development, and commercialization of treatments for Osteosarcoma (OS) and other solid tumors. The Company is the world leader in gene-edited, Listeria-based cancer immunotherapies. OST-HER2, the Company's lead asset, is an immunotherapy leveraging the immune-stimulatory effects of Listeria bacteria to initiate a strong immune response targeting the HER2 protein. OST-HER2 is designed to target two mutated extracellular epitopes and one mutated intracellular epitope of the HER2 oncogene, requiring only one of these three epitopes to be present in a tumor (or micro-metastasis) to trigger the desired immune response. OST-HER2 has received Orphan Drug Designation (ODD), Fast Track Designation (FTD) and Rare Pediatric Disease Designation (RPDD) from the U.S. Food & Drug Administration and has received ODD, FTD and ATMP from the European Medicines Agency.
The Company reported positive data in its Phase 2b clinical trial of OST-HER2 in recurrent, fully resected, lung metastatic osteosarcoma, demonstrating clinically significant benefit in the 12-month event free survival (EFS) primary endpoint of the study and the overall survival (OS) secondary endpoint. The Company is seeking a Biologics License Application (BLA) from the U.S. FDA for OST-HER2 in osteosarcoma in 2026 and, if approved, would become eligible to receive a Priority Review Voucher that it could then sell. The Company also anticipates receiving Conditional Marketing Authorisation Applications from the U.K.'s Medicines and Healthcare products Regulatory Agency and the EMA for OST-HER2 in 2026. OST-HER2 has completed a Phase 1 clinical study primarily in breast cancer patients, in addition to showing preclinical efficacy data in various models of breast cancer. OST-HER2 has been conditionally approved by the U.S. Department of Agriculture for the treatment of canines with osteosarcoma. The Company has also completed dosing in a Phase 1 study of OST-504 for castration-resistant prostate cancer.
In addition, OS Therapies is advancing its next-generation Antibody Drug Conjugate (ADC) and Drug Conjugates (DC), known as tunable ADC (tADC), which features tunable, tailored antibody-linker-payload candidates. This platform leverages the Company's proprietary silicone Si-Linker and Conditionally Active Payload (CAP) technology, enabling the delivery of multiple payloads per linker. For more information, please visit www.ostherapies.com.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of OS Therapies and members of its management, as well as the assumptions on which such statements are based. OS Therapies cautions readers that forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to the potential approval of OST-HER2 by the U.S. FDA and other risks and uncertainties described in "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent documents the Company files with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by the federal securities laws, OS Therapies specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
July 02, 2026 08:30 ET | Source: Iron Dome Acquisition I Corp.
New York, New York, July 02, 2026 (GLOBE NEWSWIRE) -- Iron Dome Acquisition I Corp. (the “Company”) today announced that, commencing on July 6, 2026, holders of the units (the “Units”) sold in the Company’s initial public offering may elect to separately trade the Company’s Class A ordinary shares (the “Ordinary Shares”) and warrants (the “Warrants”) included in the Units.
The Ordinary Shares and Warrants received from the separated Units will trade on The Nasdaq Stock Market (“Nasdaq”) under the symbols “IDAC” and “IDACW”, respectively. Units that are not separated will continue to trade on Nasdaq under the symbol “IDACU”. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. Holders of Units will need to have their brokers contact Odyssey Transfer and Trust Company, LLC, the Company’s transfer agent, in order to separate the Units into Ordinary Shares and Warrants.
The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination in any business, industry, sector or geographical location, but the Company intends to focus its search on a target business in the cybersecurity, defense tech, AI and data infrastructure industries.
The Units were initially offered by the Company in an underwritten offering. Santander US Capital Markets, LLC acted as sole book-running manager of the offering. Copies of the prospectus relating to the offering may be obtained from Santander US Capital Markets LLC, by email at [email protected], or by telephone at 833-818-1602.
The registration statement relating to the securities became effective on May 14, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements.” No assurance can be given that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Tom Y. Livne
Iron Dome Acquisition I Corp.
Phone: (410) 671-5481
Email: [email protected]
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - July 1, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
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Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ses/?prs=nf to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - June 30, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303496
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - June 30, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=FQIEqld_vCU
Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pics/ to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Type B Meeting requested to follow up on September 2025 End of Phase 2 FDA Meeting guidance on statistical methods to be used for BLA Submission Seeking to align FDA with MHRA & EMA on 3-year overall survival as approval endpoint Biomarker data submitted to FDA BEST program as surrogate clinical efficacy data Synthetic historical control arm OST-400 recruitment potentially adds comparator for BLA submission under the Accelerated Approval Review of Rolling Review, RMAT & Breakthrough Therapy designation requests sought New York, New York and Rockville, Maryland--(Newsfile Corp. - June 30, 2026) - OS Therapies, Inc. (NYSE American: OSTX) ("OS Therapies" or "the Company"), the world leader in gene-edited, Listeria-based cancer immunotherapies, today provided regulatory update on the Company's interactions with the U.S. Food and Drug Administration (FDA) in its pursuit of a Biologics License Application (BLA) under the Accelerated Approval Program (Accelerated Approval) for OST-HER2 in the prevention or delay of recurrence in fully resected, pulmonary metastatic osteosarcoma (the "Metastatic Osteosarcoma Program"). OS Therapies has requested a Type B Meeting to review the Company's 2.5-year overall survival data and to confirm alignment that 3-year overall survival data is an approvable clinical efficacy endpoint.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - June 29, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303284
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
New York, New York and New Orleans, Louisiana--(Newsfile Corp. - June 29, 2026) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of PicS who were adversely affected if they purchased the Company's Class A common stock in and/or traceable to its January 30, 2026 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=FQIEqld_vCU
Follow the link below to get more information and be contacted by a member of our team:
https://www.ksfcounsel.com/cases/nasdaqgs-pics/
PicS investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pics/ to learn more.
CASE DETAILS: According to the Complaint, PicS and certain of its executives are charged with failing to disclose material information in the Offering Documents, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) in December 2025, the Company determined that its credit assessment procedures were deficient and required enhancement; (ii) following implementation of revised procedures, the Company reclassified approximately R$590 million of exposures from Stage 2 to Stage 3, resulting in an incremental ECL charge of R$88 million for the quarter ended December 31, 2025; (iii) the Company experienced an undisclosed Stage 3 formation rate exceeding 7% in the fourth quarter of 2025, materially departing from the historical trends disclosed in the offering documents; (iv) the offering documents materially overstated the effectiveness of PicS N.V.'s credit models, user data, and underwriting and risk-monitoring capabilities; and (v) prior to the IPO, PicS N.V.'s expansion into riskier business lines had led to deteriorating credit quality, increased default and impairment risk, and adverse financial and operational trends that were expected to continue worsening and materially impact the Company's business and financial results.
The case is FirstFire Global Opportunities Fund, LLC v. PicS N.V., No. 26-cv-04793.
WHAT TO DO? If you invested in PicS and suffered a loss during the relevant time frame, you have until August 4, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - June 28, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303112
Source: Faruqi & Faruqi LLP
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - June 27, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 - a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 - well below the $19.00 IPO price - causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303049
Source: Faruqi & Faruqi LLP
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New York Times Co. (NYT - Free Report) has been on a downward spiral lately with significant selling pressure. After declining 8.6% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Here's Why NYT Could Experience a TurnaroundThe heavy selling of NYT shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.03. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.
The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for NYT has increased 0.9%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, NYT currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
